Franz Vranitzky

Franz Vranitzky (4 October 1937-) was Chancellor of Austria from 16 June 1986 to 28 January 1997, succeeding Fred Sinowatz and preceding Viktor Klima. He was a member of the SPO, serving as its leader from 1988 to 1997.

Biography
Franz Vranitzky was born in Vienna, Austria in 1937, and he obtained a doctorate in economics and in 1961 took employment with the Austrian National Bank. A staunch member of the SPO, he became a close adviser to the Finance Minister, Hannes Androsch, from 1970 to 1976. In 1981, he was appointed general director of the Federal Bank. He became Finance Minister in 1984, and on 16 June 1986 became Chancellor. From 1987, he ruled with the help of a grand coalition, and was often at pains to stop the electoral decline of the SPO in the face of a fragmentation of the political spectrum, and the rise of the neo-fascist Austrian Freedom Party. He pursued a rigorous monetary policy and eventually succeeded in securing Austria's abandonment of its principle of neutrality through accession to the European Union, which came into effect on 1 January 1995. Against most predictions, he emerged as a clear winner from the elections on 17 December 1995. He resigned in 1997 and entered the private sector.